Tenev: Companies Shouldn't Block Tokenized Stocks Amid Crypto Trading Surge
Robinhood CEO Vlad Tenev made headlines recently after speaking out about tokenized stocks and their potential impact on investor trust. In a statement, he emphasized that companies shouldn't be able to block tokenized stocks.
This comes as the company's crypto trading volume continues to rise, with $17.5 billion in August, a 61% increase from July. However, this figure is still 38% below last year's August numbers.
Not everyone is pleased with Robinhood's tokenized stock plans. AMC CEO Adam Aron has publicly criticized the company, stating that AMC neither authorized nor participates in the offering and asking outside securities counsel to investigate.
Despite this backlash, Robinhood remains committed to expanding its crypto offerings. The company recently acquired minority stakes in Crypto.com and OG.com, and Event contracts have generated $156 million for the company.